With all the hoopla about taxes, you would think that taxes are the biggest worry for small businesses. No, it’s getting that loan from the bank. The loan that can
lead to job creation, higher wages, and stronger economic growth.
The latest NSBA survey says that “79 percent reported worsening terms [for small businesses] up from 69 percent in December 2008. Even more eye-opening: when asked if their credit-card terms had worsened in the last six months, a whopping 75 percent reported that they had.”
According to 30-year banking insider Marilyn Landis, CEO of Basic Business Concepts, “… As long as we live in an era where having computer scoring and computer-based decisions, and...million-dollar loans are being done on credit scoring… All we can do is look for lenders where they are going to be looking at the individual again, getting the people back involved, and [letting] the computers be in the second position.
When banks use a computer to rate a small business, or even a consumer, on the basis of a numerical scoring system alone, they fail to consider the small business owner and his potentially positive benefit on the community.
Reform the credit rating system for small businesses.
Why is this important?
When banks use a computer to rate a small business, or even a consumer, on the basis of a numerical scoring system alone, they fail to consider the small business owner and his potentially positive benefit on the community.
And although, it doesn't affect me directly, it does affect job creation, which affects all of us.
